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NFDA Warns EU 'Made in Europe' Rules Could Raise Car Costs
Confirmed
In Short: The National Franchised Dealers Association urges caution on EU rules that prioritize European-made vehicles, fearing higher costs for British-built cars.
The National Franchised Dealers Association (NFDA) has expressed concern over the European Union's proposed 'Made in Europe' requirements, which could disadvantage British-built vehicles and raise costs for consumers.
Healey's concerns are echoed by the NFDA, which is backing government efforts to prevent British-built vehicles from being disadvantaged by the EU's proposed Industrial Accelerator Act.
The Made in Europe policy, aimed at reducing reliance on Chinese components, could be a significant stumbling block for British auto-industry suppliers who feed into EU supply chains, potentially costing the UK about £15 billion in annual exports.
The NFDA said it would continue representing franchised car dealers and their customers as negotiations progress, emphasizing the need for careful consideration of the policy's impact on the British automotive industry.
What's confirmed
- The National Franchised Dealers Association (NFDA) has expressed concern over the European Union's proposed 'Made in Europe' requirements, which could disadvantage British-built vehicles and raise costs for consumers.
- Healey's concerns are echoed by the NFDA, which is backing government efforts to prevent British-built vehicles from being disadvantaged by the EU's proposed Industrial Accelerator Act.
- The Made in Europe policy, aimed at reducing reliance on Chinese components, could be a significant stumbling block for British auto-industry suppliers who feed into EU supply chains, potentially costing the UK about £15 billion in annual exports.
- The NFDA said it would continue representing franchised car dealers and their customers as negotiations progress, emphasizing the need for careful consideration of the policy's impact on the British automotive industry.
What's still developing
- The legislation includes “Made in the EU” requirements intended to steer public procurement and financial support towards vehicles and components produced within the bloc.
- About £15 billion of British automotive exports are sold into European markets each year, and Healey, attending his first EU finance ministers meeting since he was made chancellor in July, will tell the bloc not to erect new barriers.
- British finance minister John Healey will urge his counterparts in the European Union not to exclude Britain from the bloc's "Made in Europe" industrial policy at a meeting in Dublin later, as he presses for deeper economic and security ties.
- It remains subject to negotiations involving the European Parliament and EU member states.